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HEALTHTEK ADOPTS PLAN OF LIQUIDATION

    AUBURN, Calif., Nov. 16 ~PRNewswire~ -- HealthTek Inc. (NASDAQ: HLTK), a Deleware corporation headquartered in Auburn, announced today that it was adopting a plan of liquidation and would cease operations prior to Dec. 31, 1992.
    HealthTek, a manufacturer of primarily disposable plastic medical devices, reported a net loss of $293,000 or 13 cents per share, on net revenue of $477,000 for the quarter ended Sept. 30, 1992.
    The company is in default under the terms of existing secured financing agreements and unable to arrange to refinance the debt. Proceeds of liquidation will be applied to secured obligations and then to unsecured creditors to the extent available.  It is not anticipated that any funds will be available for distribution to shareholders.
    Richard E. Lyke, chairman of the board of directors, has resigned as a director effective immediately.
    -0-             11~16~92
    CONTACT:  Brenda Calligan, office manager of HealthTek,  916-887-8060
    (HLTK) CO:  HEALTHTEK INC. IN:  MTC ST:  CA


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Publication:PR Newswire
Date:Nov 16, 1992
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